Pricing Analytics & Optimization Platform News from Nomis

AI: The Slingshot for Small Banks

Regional and community banks are struggling with growth and profitability in the face of competitive pressure from large national banks and fintech startups. Executives at these institutions are instructed to invest in technology, and to leverage data and artificial intelligence to compete more effectively.

While that sounds good,smaller banks are often constrained by a dependence on legacy core vendors that limits their IT potential, encounter difficulties in accessing their own data, lack skilled data scientists, and have no clear vision on where to start.